The Indonesian Capital Market Review (p-ISSN: 1979-8997; e-ISSN: 2356-3818) aims to discuss, explore, and disseminate the latest issues and developments in empirical financial economics (JEL classification: G), particularly those related to financial frictions both in developed and emerging markets.
The topics covered include, but are not limited to, capital markets, financial institutions and services, corporate finance, risk modeling and management, and market microstructure in financial markets. We also welcome more recent topics in finance, such as sustainable finance, green finance and banking, and digital finance.
ICMR has been indexed in EBSCOhost (since 2013), DOAJ (since 2015), CrossRef (since 2016), and ESCI. The journal is nationally accredited SINTA 3 by the Ministry of Higher Education, Science, and Technology of Indonesia (updated based on the latest accreditation results in 2026).
Current Issue: Volume 18, Number 2 (2026) July Articles
Articles
100-Day Analysis of USD/IDR Exchange Rate Dynamics Around the 2025 U.S. Presidential Inauguration
Sandy HS Herho, Siti N. Kaban, and Cahya Nugraha
https://doi.org/10.7454/icmr.v18i2.1260
Volatility Spillovers Between Stock Prices and Exchange Rates: Insights for Risk Management and Investment Strategies: Evidence from China, India, and Pakistan Using BEKK-GARCH Models
Samreen Fatima, Humera Sultana, Muhammad Najamuddin Dr., and Saba Naz
https://doi.org/10.7454/icmr.v18i2.1270
Who Pays Dividend? Statistical Explanation and Machine Learning Prediction: Evidence from Pakistan
Zohaib Aziz and Javed Iqbal
https://doi.org/10.7454/icmr.v18i2.1283
Impact of Trade and Financial Openness on the Efficiency of the Nigerian Stock Market
Damian Chidozie Uzoma-Nwosu Dr, Samuel Orekoya Dr, and Oluwatosin Adeniyi
https://doi.org/10.7454/icmr.v18i2.1272
CEO Gender, Trade Credit, Covid-19 Pandemic, and Corporate Dividend Policies in Vietnam
Trang Ngoc Doan Tran Ms., Linh Ngoc Thi Nguyen Ms., Dung Phuong Ngoc Tran Ms., and Khoa Dang Duong Dr.
https://doi.org/10.7454/icmr.v18i2.1279
Usability of Bitcoin as Currency in Türkiye: Fourier Shin Approach
İsmail Cem Özkurt, Deniz Özyakışır, and Yunus Kutval
https://doi.org/10.7454/icmr.v18i2.1293










